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Seems like a function the SEC should perform. What's the issue here?
by myko 3y ago
Seems like a function the SEC should perform. What's the issue here?
- ygjb 3y agoWealthy people might be held accountable (at least, that is my read on it :P).
- colpabar 3y agoMy extremely cynical guess is that members of government (or anyone who can, really) who have made tons of money illegally trading on insider information are having their "journalist" friends write pieces to drum up resistance to whatever legislation is being proposed from online privacy activists.
- monero-xmr 3y agoThe people who work for the government are just like us. Giving a government agency searchable access to tons of sensitive data has time and time again resulted in civil liberties abuses. After all why not just give every agency the power to see everything I have ever visited, searched for, posted, liked, etc. in one easy to use tool? Some people may like that, but I reflexively disagree with any tool that gives even more of my private information to a government or private entity. Including and especially my finances.
- SoftTalker 3y ago> why not just give every agency the power to see everything I have ever visited, searched for, posted, liked, etc. in one easy to use tool Google, Facebook, ISPs, etc. are probably already giving it to them.
- cyanydeez 3y agoPeople who work for private companies are just like us. Ok, now make a useful argument.
- slavboj 3y agoFor one, you can assume that data will be compromised and exfiltrated.
- sambazi 3y ago"information wants to be free"
- schwap 3y agoAh yes, unlike private companies and their sterling record of protecting sensitive information!
- slavboj 3y agoDuplicating every single record into the same place is a massive increase in attack surface and payoff for an attacker.
- toomuchtodo 3y agoReal estate holdings are public, why would it matter if public security holdings were public as well? (my portfolio was previously reported for compliance purposes to my financial services employer, and trades required pre-approval and ongoing portfolio monitoring)
- slavboj 3y agoThey're not public, they're available covertly to people with access to the database. How much would you pay to duplicate, say, Paul Pelosi's trades? How about getting a notice whenever someone acquires just short of the threshold amount that requires an SEC filing for a merger target?
- Johnny555 3y agoIdeally, the Pelosi family trading history would already be public information as with all congressional trades.
- Analemma_ 3y agoWall Street Journal subscribers can't get away with insider trading and tax evasion. It's outrageous.
- adolph 3y ago> Seems like a function the SEC should perform. What's the issue here? It is none of their business, that's why. [0] Standard link: 'I've Got Nothing to Hide' and Other Misunderstandings of Privacy by Daniel J. Solove https://papers.ssrn.com/sol3/papers.cfm?abstract_id=998565 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=998565 [0] https://linguaholic.com/linguablog/thats-vs-that-s/ https://linguaholic.com/linguablog/thats-vs-that-s/